Middle East ETF News Older than One Year
Dubai shares tank ahead of third-quarter results
March 25, 2015--Amid a lack of catalysts, the Dubai equity market index DFMGI plummeted 2.23 per cent on Wednesday, March 25. The gauge hit 3,434.65 points, remaining on the lower end of Bollinger bands.
Arabtec Holding led the list of losing stocks, falling 4.96 per cent to AED2.30, a 13-week low.
Source: AME Info
Qatar exchange index breaks out of sideways channel
March 24, 2015--Following three rather static sessions, the Qatar Exchange 20 index advanced 1.32 per cent to reach 11,673.45 on Tuesday, March 24.
Qatar Islamic Bank surged 4.53 per cent to QAR101.50.
Source: AME Info
Abu Dhabi bourse advances for the fourth consecutive session
March 24, 2015--The Abu Dhabi stock market index ADXGI added 0.22 per cent to close at 4,390.67 on Tuesday, March 24.
Abu Dhabi National Oil Company, known as Taqa, jumped 14.30 per cent to hit AED0.80.
Source: AME Info
Arabtec shares fall as it contracts with Aramco
March 24, 2015--The Dubai stock market index DFMGI added 0.33 per cent on Tuesday, March 24, finishing at 3,512.87 points.
Emaar slipped 1.20 per cent to AED6.67.
Arabtec Holding as the most liquid share fell 1.22 per cent to hit AED2.42.
Source: AME Info
Saudi land tax decision hits real estate shares
March 24, 2015--Saudi Arabia's decision to levy undeveloped land in urban areas is seen as a bold move to curb housing shortage, but shares of real estate firms tumbled following the announcement.
The cabinet of the oil-rich kingdom on Monday approved a proposal to tax undeveloped land in urban areas expecting that more land can be pushed into the market and utilised to address the shortage of affordable housing.
Source: AME Info
Bank shares stabilise Bahrain market
March 23, 2015--Following the Bahrain market index fall by two per cent over the last few days, the gauge regained 0.15 per cent to close at 1,452.49 points on Monday, March 23.
Bank of Bahrain and Kuwait jumped 5.63 per cent to BD0.45.
Source: AME Info
Qatar market remains static
March 23, 2015--The Qatar Exchange 20 index closed insignificantly lower at 11,517.48 on Monday, March 23.
Mannai Corporation closed 8.77 per cent lower at QAR104 following its annual general meeting held on Sunday. Mannai, a multi-industry conglomerate with interests in oil and gas, automotive distribution,
Source: AME Info
Abu Dhabi market gains the third session straight on Asian backwind
March 23, 2015--Although the price of oil continued to fluctuate around the low level at $45 per barrel (WTI), the Abu Dhabi equity market index ADXGI advanced by 1.34 per cent to hit 4,381.17 on Monday, March 23.
Markets in Hong Kong, Shanghai and Tokyo posted moderate gains on early Monday following comments by Chinese vice premier Zhang Gaoli at the Beijing Developoment Forum on Sunday that he saw "bright spots" in the global economy despite headwinds, Gulf Times reported.
Source: AME Info
DIC gains as investment firm eyes Saudi Arabia
March 23, 2015--The Dubai stock market index DFMGI rebounded by 2.21 per cent on Monday, March 23, closing at 3,501.33 points. Emaar added 2.74 per cent to reach AED6.75.
Dubai Investments (DI) surged four per cent, finishing at AED2.35.
Source: AME Info
Saudi Arabia: Tackling Emerging Economic Challenges to Sustain Growth
March 18, 2015--Saudi Arabia's economy has grown very strongly in recent years as it has benefited from high oil prices and output, strong private sector activity, increased government spending, and the implementation of a number of domestic reform initiatives.
Rising oil prices and oil production have also resulted in large external and fiscal surpluses, and government debt has declined to very low levels.
The economic outlook remains favorable. Nevertheless, the substantial drop in oil prices since the summer of 2014 is an important risk to the outlook. The Saudi Arabian economy remains very dependent on oil revenues to support growth and fiscal and external balances-over 90 percent of fiscal revenues and 80 percent of export revenues come from the sale of oil.
Source: IMF
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